Chinese shipping giant Cosco Shipping Holdings has revealed a huge new investment in a unit of state agricultural conglomerate Cofco.
The Hong Kong-listed shipowner said in a stock exchange filing that it had agreed to pay CNY 5.5bn ($814m) for a 5.8% stake in Cofco Fortune, a food processing and logistics company.
Cosco said the deal is part of a capital increase plan at Cofco Fortune.
